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First and foremost, I'm well aware that Hero Labs only supports IOS devices.

Getting that out of the way, I wanted to ask if anyone knew of any android apps capable of opening D&D character portfolios? I've seen a few apps that can open pathfinder characters, just not D&D 5E characters.

Are you talking about Hero Lab Classic portfolios, or Hero Lab Online?

If the former, there was a utility available at one point, but because so much of the display is dependent on the system, it had to be built for individual systems (and, in my experience, tended to be very unstable). There's also the XML inside of the portfolio that you could export and display, or the HTML version of the sheet. Actually creating something you could manipulate is a possible goal. Creating something that follows the rules of the system would require you to rewrite the system.

I have recently started on an updated version with more features by I have no eta on it at this stage

Oh, good news to hear you are working for more features. I love your app, i use a system i programmed my own and so i can read the stats. I will wait for the update.
What features do you want to release?